{"id":2055,"date":"2017-12-03T20:30:41","date_gmt":"2017-12-03T21:30:41","guid":{"rendered":"https:\/\/madaresharghi.com\/us-energy-bodies-unite-against-senate-tax-bill\/"},"modified":"2017-12-03T20:30:41","modified_gmt":"2017-12-03T21:30:41","slug":"us-energy-bodies-unite-against-senate-tax-bill","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/us-energy-bodies-unite-against-senate-tax-bill\/","title":{"rendered":"US Energy Bodies Unite Against Senate Tax Bill"},"content":{"rendered":"

madaresharghi<\/a>
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\tWith the Senate Republican tax bill racing towards a contentious vote despite numerous obstacles, a group of American energy trade bodies have penned an open letter raising urgent concerns that claim a provision, if it remains as written, would have dire impacts on the country\u2019s renewable energy industry.
\tThe issue in question is the current language of BEAT, the Base Erosion Anti-Abuse Tax provisions, in the jauntily named Senate Tax Cuts and Jobs Act, also known in some circles as the Donor Relief Act, Clean Technica reported.
\tThe joint letter \u2014 signed by the American Council on Renewable Energy together with the American Wind Energy Association, Citizens for Responsible Energy Solutions, and the Solar Energy Industries Associations\u2014 claims that, \u201cAs drafted, the BEAT program would have a devastating, if unintended, impact on the wind and solar energy investment and development.\u201d
\tThe US renewable energy industry has already won one fight over the Republican tax plans, with House Republicans\u2019 plans to devastate tax credits for wind, solar and electric vehicles, removed by the Senate.
\tHowever, the BEAT provisions as currently drafted undermine the US renewable energy industry\u2019s capacity to use renewable energy tax credits.
\tAccording to the joint letter, \u201cmulti-national companies covered under the BEAT provisions, the renewable tax credits would, as drafted, be subject to a new 100 percent tax.\u201d
\t\u201cIt is important to note that, while the BEAT provisions are intended to promote US investment and job growth, the program\u2019s treatment of renewable energy tax credits \u2014 which are generated exclusively through investment in US projects \u2014 would have the opposite impact, dramatically reducing American wind and solar energy investment and job creation. These sectors are important national economic drivers, generating nearly $50 billion in annual US investment.\u201d
\t\u201cRenewable tax credits, which are already phasing down, would be subject to a new 100% tax under the Senate bill, while the array of tax benefits for fossil fuels, in some cases more than 100 years old, remain untouched,\u201d said ACORE CEO Gregory Wetstone.
\t\u201cIf this bill passes as drafted major financial institutions would no longer participate in tax equity financing, which is the principal mechanism for monetizing credits. Almost overnight, you would see a devastating reduction in wind and solar energy investment and development,\u201d he added.
\tThe wind and solar industries have been bracing for tax reform since Donald Trump\u2019s win in US election last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

madaresharghi With the Senate Republican tax bill racing towards a contentious vote despite numerous obstacles, a group of American energy trade bodies have penned an open letter raising urgent concerns that claim a provision, if it remains as written, would have dire impacts on the country\u2019s renewable energy industry. The issue in question is the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"\nUS Energy Bodies Unite Against Senate Tax Bill - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/us-energy-bodies-unite-against-senate-tax-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Energy Bodies Unite Against Senate Tax Bill - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi With the Senate Republican tax bill racing towards a contentious vote despite numerous obstacles, a group of American energy trade bodies have penned an open letter raising urgent concerns that claim a provision, if it remains as written, would have dire impacts on the country\u2019s renewable energy industry. The issue in question is the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/madaresharghi.ir\/en\/us-energy-bodies-unite-against-senate-tax-bill\/\" \/>\n<meta property=\"og:site_name\" content=\"madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-03T21:30:41+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\",\"url\":\"https:\/\/madaresharghi.ir\/en\/\",\"name\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"description\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/madaresharghi.ir\/en\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/us-energy-bodies-unite-against-senate-tax-bill\/#webpage\",\"url\":\"https:\/\/madaresharghi.ir\/en\/us-energy-bodies-unite-against-senate-tax-bill\/\",\"name\":\"US Energy Bodies Unite Against Senate Tax Bill - madaresharghi | An Analytical Look at Middle Eastern Developments\",\"isPartOf\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\"},\"datePublished\":\"2017-12-03T21:30:41+00:00\",\"dateModified\":\"2017-12-03T21:30:41+00:00\",\"author\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/madaresharghi.ir\/en\/us-energy-bodies-unite-against-senate-tax-bill\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\",\"name\":\"administrator\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/901309319175b0d219e688b01909d220?s=96&d=mm&r=g\",\"caption\":\"administrator\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/2055"}],"collection":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/comments?post=2055"}],"version-history":[{"count":0,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/2055\/revisions"}],"wp:attachment":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/media?parent=2055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/categories?post=2055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/tags?post=2055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}